Share this article
Cryptocurrency Market Will More Than Triple by 2030: Study
The report by Allied Market Research projects a compound annual growth rate of 12.8% from 2021 to 2030.
Updated Sep 14, 2021, 1:44 p.m. Published Aug 25, 2021, 9:48 a.m.
The global cryptocurrency market will hit $4.94 billion by 2030, more than triple its estimated size of $1.49 billion in 2020, according to a new study.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The report by Allied Market Research published Tuesday projects a compound annual growth rate of 12.8% between 2021 and 2030.
- The main drivers will be increased demand for international remittances and more transparency in global payments systems, Allied Market said.
- More than two-thirds of the industry's 2020 size was attributable to the mining segment, which is expected to retain this position of dominance through 2030.
- However, the transaction segment will see the fastest growth, the report found.
- Allied Market forecast that the Asia-Pacific crypto industry will be the fastest growing because of increased competition from a growing number of exchanges.
- The report largely echoes of another recent study by the same company into the crypto asset-management market, which it projects will grow to $9.4 billion in 2030 from $670 million in 2020. That also identified Asia-Pacific as the region for the most significant growth because of the large numbers of crypto mining enterprises there, driving demand for asset-management products and services to help manage their business processes.
Advertisement
Read more: The Future of Bitcoin: 12 Scenarios From Bullish to Bearish
Більше для вас
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Що варто знати:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
